Are you rich? It depends on where you live:
http://www.usnews.com/articles/business/your-money/2008/10/09/what-it-takes-to-be-rich--where-you-live.html
The problem is, the numbers represent an average, not a median, which reduces their relevance. On the bright side, there are lots of lovely numbers for stat geeks like myself.
"And if an epitaph be my story, I'd have a short one ready for my own: I had a lover's quarrel with the world." -- Robert Frost
Wednesday, October 15, 2008
National Geographic on Iran: "Knowledge of self is knowledge of God"
National Geographic has an interesting article on Iran and its past:
http://ngm.nationalgeographic.com/2008/08/iran-archaeology/del-giudice-text
They like to say, for instance, that when invaders came to Iran, the Iranians did not become the invaders; the invaders became Iranians. Their conquerors were said to have "gone Persian," like Alexander [the Great], who, after laying waste to the administrative practices, took a Persian wife to do the same in a mass wedding. Iranians seem particularly proud of their capacity to get along with others by assimilating compatible aspects of the invaders' ways without surrendering their own - a cultural elasticity that is at the heart of their Persian identity.
The author, Marguerite Del Giudice, really did her homework--it's very hard to define words that have no direct translation in English, but she aptly defines the word, "taarof," which means "fighting for the lower hand." To understand this word provides substantial insight into Persian culture. The article also lists the best Persian poets: Rumi, Sa‘id, Omar Khayyám, and Hāfez .
Thanks to Alison Bryan for the tip (August 31, 2008 posting):
http://www.alisonbryan.com/blog/
http://ngm.nationalgeographic.com/2008/08/iran-archaeology/del-giudice-text
They like to say, for instance, that when invaders came to Iran, the Iranians did not become the invaders; the invaders became Iranians. Their conquerors were said to have "gone Persian," like Alexander [the Great], who, after laying waste to the administrative practices, took a Persian wife to do the same in a mass wedding. Iranians seem particularly proud of their capacity to get along with others by assimilating compatible aspects of the invaders' ways without surrendering their own - a cultural elasticity that is at the heart of their Persian identity.
The author, Marguerite Del Giudice, really did her homework--it's very hard to define words that have no direct translation in English, but she aptly defines the word, "taarof," which means "fighting for the lower hand." To understand this word provides substantial insight into Persian culture. The article also lists the best Persian poets: Rumi, Sa‘id, Omar Khayyám, and Hāfez .
Thanks to Alison Bryan for the tip (August 31, 2008 posting):
http://www.alisonbryan.com/blog/
Market Gyrations
I sold off several positions on Tuesday. I wanted to do a stocks update, but I am in the middle of trial prep, so I will offer only my remaining open positions over 2,000 dollars:
EMC
EZU
PFF
SWZ
YHOO
My biggest loser thus far? Yahoo (YHOO). Unfortunately, I continued to average down, and my average buy price is around 18. The lesson? Never catch a falling knife, no matter how cheap the stock seems.
EMC
EZU
PFF
SWZ
YHOO
My biggest loser thus far? Yahoo (YHOO). Unfortunately, I continued to average down, and my average buy price is around 18. The lesson? Never catch a falling knife, no matter how cheap the stock seems.
David Brooks on the Stimulus Package
In yesterday’s New York Times, David Brooks says the stimulus plan didn’t work:
It was a failure, because “people spent only 10 percent to 20 percent of the rebate dollars and saved the rest...Martin Feldstein of Harvard calculates the package added 80 billion to the national debt while producing less than 20 billion in consumer spending.”
More evidence the phrase, "We're the government, and we're here to help you," should inspire automatic fear.
It was a failure, because “people spent only 10 percent to 20 percent of the rebate dollars and saved the rest...Martin Feldstein of Harvard calculates the package added 80 billion to the national debt while producing less than 20 billion in consumer spending.”
More evidence the phrase, "We're the government, and we're here to help you," should inspire automatic fear.
Tuesday, October 14, 2008
NBA Layoffs
You know the economy is bad when the NBA starts laying off people:
http://sports.yahoo.com/nba/news?slug=ap-nba-jobcuts
The NBA, like most other major American businesses, is focusing on international expansion. Maybe Hamed Haddadi can help them out...
Update: Check out this post on Don Nelson and Corey Maggette if you're a Golden State Warriors fan:
http://willworkforjustice.blogspot.com/2008/12/basketball-don-nelson.html
http://sports.yahoo.com/nba/news?slug=ap-nba-jobcuts
The NBA, like most other major American businesses, is focusing on international expansion. Maybe Hamed Haddadi can help them out...
Update: Check out this post on Don Nelson and Corey Maggette if you're a Golden State Warriors fan:
http://willworkforjustice.blogspot.com/2008/12/basketball-don-nelson.html
Monday, October 13, 2008
Economy
Great article from Ron Scherer (www.csmonitor.com) about Americans finally shifting their attitudes towards finances:
http://www.csmonitor.com/2008/1010/p01s04-usec.html
Since last October, household net worth has fallen more than $6 trillion...That calculates to roughly $55,000 per household.
This is one time where I am happy to be below the average. Americans, for the first time, are realizing that having too much debt is unwise, which should cause a short-term bump in our savings rate.
http://www.csmonitor.com/2008/1010/p01s04-usec.html
Since last October, household net worth has fallen more than $6 trillion...That calculates to roughly $55,000 per household.
This is one time where I am happy to be below the average. Americans, for the first time, are realizing that having too much debt is unwise, which should cause a short-term bump in our savings rate.
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